2020 was a tough time for everyone and every business. The landscape of industry and companies changed a lot during these times. Going to the office every day was taken over by the comfy chair in the house and laptops and internet problems. This was a case everywhere in the world, and we needed to adapt… somehow, and we did. But for businesses, it’s hard to change the norm followed in a company for such a long time. Traditional methods were out, and businesses somehow matched up with the modern way. This all helped companies to stay afloat, but it’s not enough.
Companies need that competitive edge that can only be achieved by going Digital. Going Digital is not just going online; it also means taking the backed part of work online. Using Data analyses software, using a Cloud network, Using Business Intelligence are just a few things that can take a business from the Boomer age to Gen Z.
But businesses that are in healthcare, Hospitality, Banking, Supply Chain, and more that are so dependent on interaction and data management have suffered a lot. All the data backload, team member safety, and problems to run the business from the way of “New Normal” took a toll for such companies. Modern Tech is required for a better transition.
Hospitality Industry
Hospitality Industry has always been a cutthroat industry, but recently due to the pandemic, the survival of this business has become very difficult. Therefore, they need to align every business process along with their technological objectives more effectively.
Technological challenges are causing the most significant barrier for the hospitality industry. Some of them cannot find solutions for scaling as the company grows while having errors in order handling & processing. Scheduling is affected due to a lack of access to real-time information. Most importantly, having separate POS Systems makes it more challenging to keep all financials in one place.
Implementing and integrating Microsoft Dynamics CRM with the existing systems can help several financial processes like bank reconciliation, taxation, etc., and make them automated and less tedious to manage. Also, integration and implementation of systems that enable access to real-time data and generate reports helping stakeholders to make crucial decisions quickly. Such rapid processes also help with customer retention and satisfaction.
Healthcare
The Healthcare Industry has come under tremendous pressure and stress due to the pandemic, and it has undergone a rapid transformation. However, they adjusted well enough to these changes quickly, and it helped make sure that the critical services were available without interruption.
Technological challenges are experienced by almost all industries. Efficiency is low due to the use of different systems. Developing an easy-to-understand app as per customer requirements and dashboards designed in Microsoft Power Bi makes it possible to monitor the pandemic. Creating a country-wide starter kit enabling each country to visualize their key indicators, also change, modify or add new reports on the go.
Automation of previously manual processes helps coordinate with multiple service providers and all the customers. Developing apps where a user can select the infusions, schedule appointments, and pay for them. Also, get real-time visualization of graphs and critical indicators on cases, contacts, laboratory, and follow-ups. It also provided reports drilled down to country, state, city, and location levels.
Supply Chain Management
The supply chain of any company is critical. Due to the effects of last year, supply chain management has a severe impact on it. Companies were not having complete visibility of all stages due to a lack of online resources. Thus a comprehensive online tracking system is essential right from start to end. Right online customer portals are needed for a convenient one-stop-shop for procurement and reverse auction that helps reduce the complexity of dealing with multiple entities for the department, increasing supply chain visibility, and boosting team member productivity.
An online portal can also help in better decision making and balance tracking at all levels, leading to controlled inventory, lesser wastage, and timely availability of needed goods with the retailers.
E-Commerce
Well, shopping waits for no one, and this was clearly visible in the pandemic times. Whether it was food or other necessary products, everything was bought online, saving time and feeling safe. But companies had a tough time due to a lack of system friendliness. This caused a few companies to lose the edge in the competitive market.
By revamping the website to this changing world and using the latest Tech to make a user friendly and faster can change the game and increase revenue by 30% to 50%. By streamlining the systems, the company can make faster decisions, and also helpful for vendor management. Now that is an all-in-one solution!
Well, to end this, it’s not just the pandemic that demands the tech upgrade but also the time. As time changes, the tech changes but companies don’t. To remain constantly competitive, your Tech should be cutting edge too.
About the author:
Natasha Bhatia – Assistant Marketing ManagerAt Direction Software LLP, Natasha works with the Marketing team to do Marketing campaigns, websites development, content writing, SEO and social media platforms management.